US VC firm Andreessen Horowitz to open first international office in London
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Mr Chris Dixon, founder and managing director of Andreessen’s a16z crypto fund, which is setting up the office.
PHOTO: REUTERS
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BENGALURU – US venture capital firm Andreessen Horowitz, a major cryptocurrency investor, said on Sunday it will set up its first international office in London, at a time when United States regulators have increased scrutiny of the cryptocurrency sector.
The London office, set to open later in 2023, will work with universities in Britain and support the development of blockchain technologies and start-ups, the company said in a statement, adding that it will be led by one of the firm’s general partners, Mr Sriram Krishnan.
The move by Andreessen comes at a time when the US Securities and Exchange Commission has been cracking down on the crypto industry, suing cryptocurrency exchanges Coinbase and Binance last week
“We’re thrilled to open our first international office in a jurisdiction that welcomes blockchain technology and is committed to creating a predictable business environment by pursuing regulations that both embrace Web3 and protect consumers,” said Mr Chris Dixon, founder and managing director of Andreessen’s a16z crypto fund, which is setting up the office.
The decision follows talks with British Prime Minister Rishi Sunak and other authorities for months, Mr Dixon said.
Mr Sunak said in the statement that he is “determined to unlock opportunities” for blockchain technology and “turn the UK into the world’s Web3 centre”.
Web3 is a much-hyped vision of a future Internet built on blockchain. REUTERS
